EIA: Ethanol Stocks, Blend Demand Down

NEW YORK (DTN) -- The U.S. Energy Information Administration issued a report midmorning Wednesday showing across-the-board declines for domestic ethanol inventories, plant production and blending demand during the week-ended May 19.

The EIA's Weekly Petroleum Status Report showed ethanol inventories tumbled roughly 700,000 barrels (bbl), or 3.0%, to about 22.7 million bbl while 1.9 million bbl, or 9.1%, higher year-on-year last week. Stocks declined in all but one of the regions -- the PADD 5 West Coast, with supply up 300,000 bbl to 2.9 million bbl, the highest supply level for the region since the week-ended Dec. 11, 2015.

Domestic plant production declined 17,000 barrels per day (bpd), or 1.7%, to 1.010 million bpd, while up 64,000 bpd or 6.8% higher year-on-year. For the four weeks ended last week, fuel ethanol production averaged 1.007 million bpd, up 62,000 bpd or 6.6%.

Net refiner and blender inputs, a gauge for ethanol demand, eased 2,000 bpd, or 0.2%, to 949,000 bpd. Blending demand surged 33,000 bpd, or 3.6%, year-on-year. For the four-week period ended May 19, blending demand were up 25,000 bpd, or 2.75%.

(BM/AG)